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His son, Joseph W. Luter IV, became an executive vice-president of Smithfield Foods in 2008 and president of the Smithfield Packing Company, by then the parent company's largest subsidiary. [24] He resigned in October 2013. [23] At that point his stock was valued at $21.1 million and Joseph W. Luter III's at $30 million. [25]
In May 2013, Shuanghui announced its intention to buy Smithfield Foods for $34 per share, or about US$4.72 billion total. Including assumed debt, the total value of the deal was about $7.1 billion. The agreed purchase price represented a 31% premium over Smithfield's market price at the time when the deal was announced. [3]
The Smithfield Packing Company sells meat products such as ham, ground pork, pork chops, bacon, and lunch meat. It sells its products worldwide. The company was founded in 1936. It is based in Smithfield, Virginia. It is part of Smithfield Foods which is in turn a subsidiary of WH Group. [1] [2] [3]
Smithfield Foods is targeting a valuation of up to $10.73 billion in its New York flotation, the biggest U.S. pork processor said on Tuesday, moving closer to its U.S. stock market return after ...
Smithfield Foods (NYS: SFD) lit up Wall Street with record quarterly earnings boosted by strong demand for pork. In spite of high raw material costs, the company managed to top Wall Street estimates.
Smithfield Foods (NYS: SFD) will try to beat its earnings estimates for the fourth consecutive quarter. The company will unveil its latest earnings on Thursday. Smithfield Foods is a hog producer ...
Chief executive C. Larry Pope said at that time that he hoped Maxwell Farms would spend more on the company's facilities and marketing. A decision had to be made whether to buy Maxwell's share or sell Smithfield's. On September 10, 2010, Smithfield announced the sale of its 49 percent share of Butterball for an estimated $175 million.
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